The As Is Property Sale Agreement is a specialized legal document used in Australian property transactions where the seller wishes to transfer property ownership without providing warranties about the property's condition. This agreement is particularly relevant for properties that may have known defects, require renovation, or where the seller wants to limit their liability regarding the property's condition. The document includes comprehensive provisions covering property details, purchase price, settlement terms, and risk allocation, with specific emphasis on buyer acknowledgments and seller disclaimers. It's commonly used in distressed sales, auction purchases, or when dealing with properties that require significant renovation. The agreement must comply with Australian property law and state-specific requirements, including necessary statutory declarations and disclosures.
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1. Parties: Identifies and defines the Vendor and Purchaser with full legal names and addresses
2. Background: Contextual information about the property sale and confirmation of the 'as is' nature of the transaction
3. Definitions and Interpretation: Defines key terms used throughout the agreement and rules for interpretation
4. Property Details: Detailed description of the property being sold, including lot number, title details, and included fixtures
5. Purchase Price and Payment Terms: Specifies the agreed purchase price, deposit amount, and payment schedule
6. As Is Condition and Disclaimers: Explicit statements regarding the property's 'as is' condition and vendor disclaimers regarding property condition
7. Purchaser Acknowledgments: Purchaser's confirmation of property inspection and acceptance of condition
8. Settlement: Settlement date, requirements, and process
9. Risk and Insurance: Transfer of risk provisions and insurance requirements until settlement
10. Default and Termination: Consequences of default by either party and termination rights
11. GST: GST treatment of the sale and required declarations
12. General Provisions: Standard contract clauses including notices, governing law, and entire agreement
13. Execution: Formal execution blocks for all parties
1. Chattels and Exclusions: Used when specific items need to be included or excluded from the sale
2. Special Conditions: Used when additional terms specific to the transaction need to be included
3. Tenancy Details: Required if the property is sold subject to existing tenancies
4. Foreign Investment Provisions: Required if the purchaser is a foreign person under FIRB regulations
5. Pool Compliance: Required if the property includes a swimming pool
6. Heritage Considerations: Required if the property is heritage listed or in a heritage overlay
7. Environmental Matters: Used when there are known environmental issues or contamination
8. Planning Restrictions: Used when specific planning overlays or restrictions affect the property
1. Schedule 1 - Property Details: Comprehensive property description, title details, and encumbrances
2. Schedule 2 - Included Chattels: List of items included in the sale
3. Schedule 3 - Excluded Items: List of items specifically excluded from the sale
4. Schedule 4 - Known Defects: List of known defects or issues with the property
5. Schedule 5 - Due Diligence Results: Summary of any due diligence investigations conducted
6. Appendix A - Property Inspection Report: Copy of any property inspection reports obtained
7. Appendix B - Title Documents: Copy of title search and registered encumbrances
8. Appendix C - Planning Certificates: Relevant planning and zoning certificates
9. Appendix D - Required Statutory Forms: State-specific forms required for property transfer
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